Feb
12th
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All Chinese staff of formerly SAIC-owned Ssangyong Motor including CEO Lan Qingsong have returned to China. Full story...
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Feb
12th
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Renault has reported net income for 2008 of EUR599m "amid severe downturn" on revenues off 7% year on year (but 28.7% in the final quarter) to EUR37,791m. Full story...
Feb
12th
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Renault is re-organizing its upper management structure, including appointing of a new global sales boss, a new purchasing director and a new manager for its French home market. Full story...
Feb
12th
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New car sales fell in Russia fell by 33% year-on-year in January to 116,500 cars as the market was hit by economic downturn and a shortage of credit for car loans. Full story...
Feb
12th
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Blaming the global financial crisis, Hyundai has now confirmed a halt to plans to build a wholly-owned plant in Brazil while Honda now plans to build a new small car in Brazil, rather than construct a new plant in Argentina. Full story...
Feb
12th
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New vehicle sales in Indonesia fell by 19.6% in January to 34,167 units, according to industry-wide wholesale data released by distributor PT Toyota Astra Motor. Full story...
Feb
12th
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Renault is to end production of its Laguna family car at the Sandouville plant in France, replacing it with a model sourced from its South Korean affiliate Samsung. Full story...
Feb
12th
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Chrysler Canada is making good progress on its restructuring plans and will likely be in a position within the next couple weeks to draw on emergency loans from the governments of Canada and the province of Ontario, its president and chief executive... Full story...
Feb
12th
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U.S. economic stimulus legislation includes a provision removing a potentially staggering tax liability associated with the bailout of General Motors, a senator said on Wednesday. Full story...
Feb
12th
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Nissan Motor Co. expects its sales in China to increase 4.6 percent to 570,000 vehicles this year, despite slowing industry growth due the global financial crunch. Full story...
Feb
12th
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Ford of Europe has joined calls for the British government to introduce scrappage incentives to boost new car sales during the recession. Full story...
Feb
12th
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Tesla Motors has said it should be profitable by mid-2009 and that it has sold out of its Roadster model until early November. Full story...
Feb
12th
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Kia Motors will temporarily cut production at it Slovak assembly plant due to weak demand on European markets. "We will limit production to only one (working) shift during the next two weeks," said Kia Motors Slovakia spokesman Dusan Dvorak. Full story...
Feb
12th
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U.S President Barack Obama said he remains committed to giving ailing U.S. automakers "serious help" in the future, but only if they can produce a viable plan to transform the industry, The Detroit Free Press reported. Full story...
Feb
12th
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GM Daewoo said today it had asked the South Korean government to provide support including financial help. GM Daewoo is the South Korean unit of General Motors. Full story...
Feb
12th
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BMW and Fiat both denied a report that they are no longer planning cooperation between their Mini and Alfa Romeo brands. Full story...
Feb
12th
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General Motors has discussed selling shares of various joint ventures in China with partner SAIC Motor as part of efforts to raise cash. Full story...
Feb
12th
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Mitsubishi has pulled out of the IAA in Frankfurt in September, citing "extraordinary business and financial challenges" as the reason. Full story...
Feb
12th
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Sales of new cars in Russia collapsed by 33 percent in January compared with a year ago, a leading business daily reported on Thursday, quoting preliminary data compiled by the Association of European Businesses (AEB). Full story...
Feb
12th
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Sales of new cars in Russia will tumble by 40 percent this year, a leading business group said after sales plunged 33 percent in January. Full story...